Latest China DCM news

  • Sino-Ocean lays groundwork for Panda return

    Property developer Sino-Ocean Group Holdings is set to return to the Panda bond market with a Rmb3bn ($467.9m) three year trade — its first Panda since its debut in the asset class last March.

    • 22 Jan 2018
  • Zhongyuan Bank brings action to Chinese AT1 market

    Zhongyuan Bank Co is looking to raise Rmb10bn ($1.56bn) from an offshore additional tier one transaction, according to a Sunday filing with the Hong Kong Stock Exchange.

    • 22 Jan 2018
  • Geely prices opportunistic five year tighter than SOEs

    Geely Automobile Holdings opted for price over size with its new bond, landing aggressively at the middle of the final guidance range. The tactic meant the private company funded at or even inside the levels of some similarly or higher rated state-owned enterprises (SOE).

    • 19 Jan 2018
  • Chinese issuers opt for keepwell structures

    Peking University Founder Group Company and Bank of Communications Financial Leasing Co used keepwell deeds for their dollar bond sales on Thursday, paying a bit of premium for the structure.

    • 19 Jan 2018
  • Local investors keep Ford’s ABS on track

    Ford Automotive Finance (China) started the year in China’s asset-backed securities market by selling a Rmb4bn (Rmb618.3m) deal on Thursday. The deal was open to foreign investors, but onshore demand formed the core support for Ford’s sale, sources on the deal told GlobalRMB.

    • 19 Jan 2018
  • Jinjiang sells year’s first euro bond from Asia

    Chinese issuers Jinjiang International Holding, China South City Holding, Guangxi Communications Investment Group Corp and Tianjin Real Estate Group Co tapped the market for euro and dollar bonds on a busy Thursday.

    • 19 Jan 2018
  • Country Garden sets tongues wagging with $3bn combo

    Country Garden Holdings wowed the market this week with a HK$23.5bn ($3bn) print in both the equity and equity-linked formats, marking the largest convertible offering from a Chinese property developer.

    • 18 Jan 2018
  • Bond market revival gives second chance to debut issuers

    A receptive market and generous pricing worked in favour of China’s Concord New Energy Group and Indonesia’s Sawit Sumbermas Sarana (SSMS) this week, as both managed to pull off debut dollar bonds two months after failed attempts. Morgan Davis reports.

    • 18 Jan 2018
  • Mizuho, MUFG open Panda market for Japan’s issuers

    Mitsubishi UFJ Financial Group (MUFG) and Mizuho Bank opened the Panda bond market for Japanese issuers on January 12, with both crossing the finish line on the same day.

    • 18 Jan 2018
  • ‘Power of tech’ evident in Sunny’s aftermarket rally

    Sunny Optical Technology (Group) Company’s $600m bond debut tightened 15bp in the secondary market on its first day of trading, a clear sign of the rampant demand for technology credits. But despite the eye-catching tightening, even rival bankers thought the pricing was spot-on. Addison Gong reports.

    • 18 Jan 2018

China DCM news archive

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 Bank of China (BOC) 28.62
2 CITIC Securities 21.06
3 China CITIC Bank Corp 9.72
4 China Merchants Bank Co 9.18
5 Industrial and Commercial Bank of China (ICBC) 7.56

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 12-Jan-18 Mitsubishi UFJ Financial Group (MUFG) Japan 1,000
2 12-Jan-18 Mizuho Bank Japan 300
3 10-Jan-18 Daimler Germany 3,000
4 22-Nov-17 Province of British Columbia Canada 1,000
5 15-Nov-17 Daimler Germany 4,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 55.56
2 CLSA 22.22
2 Mitsubishi UFJ Financial Group (MUFG) 22.22

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 17-Jan-18 IL&FS Transportation Networks India 100
2 10-Jan-18 IL&FS Transportation Networks India 900
3 08-Jan-18 Westpac Australia 500
4 30-Nov-17 Ministry of Finance of the People's Republic of China (MoF) China 7,000
5 15-Nov-17 Bank of China Paris Branch (BOC Paris) China 1,000